testwow

UAE eyes petrol self-reliance

ABU DHABI: The United Arab Emirates is set to become self sufficient in petrol by the end of 2014, when its refining capacity will be boosted by the Ruwais plant expansion, an official from Abu Dhabi National Oil Company (Adnoc) said.

“We’re trying to increase our capacity to meet domestic demand. We used to be balanced in petrol, but due to rising demand that changed again,” an official said on the sidelines of an energy conference organised by Conference Connection.

Heavy petrol subsidies by the Opec member have propelled demand to more than five million tonnes, according to analyst and Adnoc estimates. The UAE produces around 2.7 million tonnes and relies on imports for the rest, the official added.

Adnoc produces the bulk of the UAE’s crude oil and refined oil products. It has also taken over the petrol stations in the northern emirates, where there were oil shortages in 2011 when the Dubai government-owned Emirates National Oil Company, squeezed by a heavy subsidy bill, stopped supplying those emirates.

Abu Dhabi Oil Refining Company has been working to expand the Ruwais complex, the UAE’s biggest refinery with a capacity of 415,000 barrels per day.

Gulf Daily News, April 24,2013

http://www.gulf-daily-news.com/